Caribbean Trade Law and Development

Category: WTO

  • Caribbean Trade & Development News Digest – June 23-29, 2019

    Caribbean Trade & Development News Digest – June 23-29, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 23-29, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S TRADE HIGHLIGHTS

    The EU and Mercosur have reached a trade deal. Read the EU’s press release here.

    G20 leaders met in Osaka, Japan and among other things, have affirmed their commitment to WTO reform. The full G20 statement may be read here.

    Barbados and UAE will co-chair UNCTAD’s 15th Quadrennial in October 2020. Read more here.

    REGIONAL NEWS

    C’bean leaders to further discuss CSME at summit

    Jamaica Observer: Caribbean Community (CARICOM) leaders will meet here early next week with the implementation of measures to enhance the CARICOM Single Market and Economy (CSME) high on the agenda. Read more

    Caricom heads to meet in July

    Newsday: The 40th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (Caricom) will be held in St Lucia from July 3-5. Read more

    Barbados to host UNCTAD Conference

    Nation News: Prime Minister Mia Mottley announced today the island would host the 15th United Nations Conference on Trade and Development (UNCTAD) quadrennial meeting in October next year. Read more

    Imports up 1.9% in May 2019

    Amandala: The Statistics Institute of Belize (SIB) reported that Belize imported $169.4 million worth of goods in May 2019, a 1.9% increase over goods imported last year in the same period. Read more

    Guyana listed as world’s fastest growing economy

    Jamaica Observer: The world’s second largest stock market NASDAQ, has named Guyana as the fastest growing economy in the world. Read more

    Regional rum producers promoting responsible drinking

    Jamaica Observer: The West Indies Rum & Spirits Producers’ Association (WIRSPA) has ended a meeting here discussing how to promote responsible drinking and to reduce the harmful use of alcohol. Read more

    Jamaica Imports and exports rising

    Jamaica Observer: The Statistical Institute of Jamaica (Statin) is reporting in its quarterly report that for the period January to March 2019, Jamaica’s imports were valued at US$1.66 billion — a 13.1 per cent increase when compared to the corresponding period for 2018 with a value of US$1.47 billion. Read more

    Antigua PM willing to create team to sensitise correspondent banks about CIP

    Antigua Observer: In an effort to sensitise correspondent banks on the integrity and security of the Citizenship by Investment Programme’s (CIP’s) application and approval process, Prime Minister Gaston Browne, in his capacity as OECS Chair, said that he is willing to assemble a team of government officials, CIP executives, Anti-Money Laundering and Countering Financing of Terrorism experts and banks to hold joint meetings. Read more

    INTERNATIONAL NEWS

    G-20 leaders agree to speed up WTO reforms

    Nikkei Asian Review: The Group of 20 leaders ended a summit dominated by the U.S.-China trade war with a commitment to accelerating efforts to reform the World Trade Organization. Read more

    India wins solar case against US at WTO

    Livemint: India on Thursday won a major trade dispute against the US at the World Trade Organization, with a dispute settlement panel pronouncing that subsidies and mandatory local content requirements instituted by eight American states breached global trade rules. Read more

    Nigeria: Finally, Nigeria to Sign African Continental Free Trade Agreement

    AllAfrica: Following the recommendation of the Presidential Committee on African Continental Free Trade Agreement (AfCFTA), which submitted its report to President Muhammadu Buhari yesterday, Nigeria will sign the agreement, with conditions authoritative presidency sources have told THISDAY. Read more

    All set for Horn of Africa trade forum focusing on region’s pharmaceutical industry

    Africanews: All is set for the two-day regional trade forum for the Horn of Africa focusing on the implementation of the historic African Continental Free Trade Agreement that went into force on 30 May. Read more

    Dairy imports off to a slow start in Pacific Rim trade deal

    CBC: As dairy, egg and poultry farmers wait for the Liberal government to explain the details of a $3.9 billion compensation package promised in this spring’s federal budget, a serious threat from imports under the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) has yet to emerge. Read more

    UK seeks new no-deal Brexit freight plan

    BBC: Transport companies are being asked to bid to provide extra freight capacity to be used in the event of a no-deal Brexit on 31 October. The hurried ferry procurement process as the UK prepared to leave the EU on 29 March cost taxpayers more than £85m. Read more

    Canada and Mexico may be open to tweaking USMCA: U.S. Democrat

    Reuters: Canada and Mexico may be open to a limited renegotiation of aspects of the United States-Mexico-Canada free trade agreement to satisfy U.S. lawmakers’ concerns, a top U.S. Democrat said on Wednesday, opening the door to its passage in the fall. Read more

    EU signs free trade agreement with Vietnam

    Deutsche Welle: The European Union has signed a landmark free trade deal with Vietnam. With concerns from some lawmakers about the country’s human rights record, the agreement needs approval from the European Parliament. Read more

    U.S. will sanction any countries that import Iranian oil: special envoy

    Reuters: The United States will sanction any country that imports Iranian oil and there are no exemptions in place, the U.S. special envoy for Iran said on Friday. Read more

    G20 summit: Trump and Xi agree to restart US-China trade talks

    BBC: The US and China have agreed to resume trade talks, easing a long row that has contributed to a global economic slowdown. US President Donald Trump and China’s President Xi Jinping reached agreement at the G20 summit in Japan. Read more

    EU to provide 40 billion euros in grants to help create jobs in Africa

    Africanews: The European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa. Read more

    Trump Says He’ll Allow China’s Huawei to Buy From U.S. Suppliers

    Bloomberg: President Donald Trump said he’ll allow Huawei Technologies Co. to buy products from U.S. suppliers, in a concession to China after talks with the country’s President Xi Jinping on Saturday. Read more

    Farmers welcome trade truce, hope for more

    WSJ: Farmers and agricultural groups welcomed the U.S.-China trade truce but many said they still need a comprehensive agreement to restore large-scale exports of U.S. crops and meat and lift the fragile farm economy. Read more

    WTO NEWS

    NEW ON CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • Caribbean Trade & Development Digest – June 9-15, 2019

    Caribbean Trade & Development Digest – June 9-15, 2019

    Welcome to the Caribbean Trade & Development News Digest for the week of June 9-15, 2019! We are happy to bring you the major trade and development headlines and analysis from across the Caribbean Region and the world from the past week.

    THIS WEEK’S TRADE HIGHLIGHTS

    UNCTAD released its World Investment Report 2019 noting that “global foreign direct investment (FDI) flows slid by 13% in 2018, to US$1.3 trillion from $1.5 trillion the previous year – the third consecutive annual decline”. Read the World Investment Report 2019.

    G20 Trade and Digital Economy Ministers for the first time met together. Read the Ministerial statement here.

    CARICOM Ministers of Foreign Affairs of the Caribbean Community (CARICOM) and the Republic of Cuba, met in Georgetown, Guyana, on June 14th, 2019, on the occasion of the Sixth CARICOM-Cuba Ministerial Meeting. Read the Declaration here.

    REGIONAL NEWS

    Joint Communique: Barbados and Ghana

    Nation News: The following Joint Communiqué was issued on the occasion of the Official Visit to Barbados by Nana Akufo-Addo, President of the Republic of Ghana.President of the Republic of Ghana, His Excellency Nana Akufo-Addo, paid an official visit to Barbados from June 14 to 15, 2019, during which he held talks with Prime Minister Mia Amor Mottley. Read more

    Ghana to help Barbados with nurses soon

    Nation News: Barbados’ acute nursing shortage could soon be a thing of the past.Thanks to the government of the Republic of Ghana, the island should soon have more than enough registered nurses to fill the void that has been a bugbear for the medical health sector for decades. Read more

    CARICOM reaffirms great value of relations with Cuba

    CARICOM Today: Even as the Caribbean Community (CARICOM) on Friday reaffirmed the great value it attaches to ties with Cuba, it reiterated its call for an immediate and unconditional end to the economic, commercial and financial embargo imposed by the United States on Cuba. Read here

    Gov’t Taking Action to Mitigate Climate Change Impacts

    JIS: Foreign Affairs and Foreign Trade Minister, Senator the Hon. Kamina Johnson Smith, says the Government is taking steps to reduce and manage the effects of climate change across all sectors through national and international partnerships. Read more

    Norway to fund mega solar farms in Guyana

    Amsterdam News: Norway’s government has approved grant aid worth $80 million to help the largest Caribbean Community nation build a number of mega solar farms to provide energy to several communities located near the jungle close to the borders with Venezuela and Brazil, officials have said. Read more

    Caribbean women entrepreneurs export ready

    MENAFM: Nineteen Caribbean female entrepreneurs have completed the WE-Xport programme, an initiative geared at helping them to start exporting or to increase exports of their products and services. Read more

    Pushing exports

    Barbados Advocate: WITH Barbados’ goods exports languishing in the region of Bds$510 million over the last two years, there is a concerted effort by the current administration to push exports to help grow the economy. Read more

    Ghana to help Guyana’s energy sector

    Demerara Waves: Ghana’s President, Nana Akufo-Addo has agreed that his country would help Guyana’s energy sector, Director-General of the Ministry of the Presidency, Joseph Harmon said. Read more

    12,000 Pounds of Mangoes Exported from Jamaica to US

    JIS: Twelve thousand pounds of mangoes were exported on Thursday (June 13) to the United States (US).The mangoes – ‘Julie’ and ‘East Indian’ – were the first set to be exported to the US in 20 years. Read more

    Jamaica Dealers Object To New Directive To Sanitise Imported Autos

    Jamaica Gleaner: The Jamaica Used Car Dealers’ Association, JUCDA, says it is strongly opposed to a new directive by the Trade Board for importers of used motor vehicles to pay a Jamaica government agent based in Japan to sanitise each auto at a cost of up to US$150 before they are shipped. Read more

    INTERNATIONAL NEWS

    India is hitting the United States with more tariffs

    CNN: India just increased tariffs on US exports, dealing another blow to fragile global trade. Read more

    Trade tensions boosted international role of euro, ECB reports

    Euractiv: Trade tensions, challenges to multilateralism and unilateral sanctions might be bad for the economy but they have helped boost the global use of the euro, the European Central Bank reported on Thursday (13 June). Read more

    Europe wants to replenish UN Green Climate Fund

    Euractiv: EU member states want to replenish a UN fund aimed at supporting developing nations cut carbon emissions and adapt to climate change, according to draft conclusions from next week’s EU summit. Read more

    Indian, Chinese officials hold dialogue to break deadlock in RCEP trade negotiations

    Hindu Business Line: In a renewed attempt to break the stalemate in the ongoing Regional Comprehensive Economic Partnership (RCEP) negotiations involving 16 countries, senior officials from India and China met in New Delhi this week to try and reach a common ground on market opening commitments. Read more

    13 RCEP nations oppose India’s strict country of origin norms

    Economic Times: India wants strict rules of origin to prevent Chinese goods from flooding the country through member countries that may have lower or no duty levels. Read more

    Trade Policy Review: Canada

    WTO: The eleventh review of the trade policies and practices of Canada took place on 12 and 14 June 2019. The basis for the review is a report by the WTO Secretariat and a report by the Government of Canada. Read more

    Egypt’s exports to Africa rise $4.7B in 2018

    Egypt Today: Egypt’s exports to the African continent are expected to reach $4.7 billion in 2018, compared to$3.6 billion in 2017, with an increase of 30 percent, according to the Commercial Representative Office. Read more

    China issues new guidelines for its commercial space sector

    China Knowledge: China has introduced its first guidelines to regulate its commercial space sector in order to guide the health development of commercial space rockets manufacturing and test flights. Read more

    Customs fraud is thriving thanks to Trump’s trade war

    The Hill: As one would expect, and as Trump intended, the value of U.S. imports from China has dropped off considerably. But what may not have been anticipated is the growth in imports from other countries or, for that matter, the increased incentive to commit customs fraud. Read more

    Public Hearings on Proposed Section 301 Tariff List

    USTR: The Office of the U.S. Trade Representative (USTR) will hold public hearings from June 17 to June 21, 2019 and, the following week, from June 24 to June 25, 2019, regarding proposed tariffs on approximately $300 billion worth of Chinese products. Read more

    Rare earths give China leverage in the trade war, at a cost

    Economist: If China cuts off exports, it would hurt America but also undermine its own long-term economic goals. Read more

    No hope of avoiding tariffs in ‘no deal’ Brexit – EU’s Malmstrom

    Reuters: Supporters of Brexit are “completely wrong” if they think recourse to an obscure trade rule will stop tariffs springing up overnight if Britain leaves the European Union without a deal, EU Trade Commissioner Cecilia Malmstrom said on Friday. Read more

    Brazil asks for WTO investigation of Indonesia on poultry trade

    CNA: The Brazilian government has formally asked the World Trade Organization (WTO) to open a panel to investigate Indonesian policies on Brazil’s poultry exports, the Agriculture Ministry said on Friday. Read more

    Liam Fox warns WTO is ‘in crisis’ as businesses told to brace for no-deal Brexit

    Telegraph: The US-China trade war, industrial strife and political deadlock all threaten to overwhelm the World Trade Organization, putting the future of the institution and the system of free trade in mortal danger, Liam Fox has warned. Read more

    UK signs post-Brexit free trade deal with South Korea

    BBC: The UK and South Korea have signed an outline free trade agreement (FTA) that seeks to maintain existing trade arrangements post-Brexit. Read more

    Taiwanese companies hit by US-China trade war lured back home by Taipei

    South China Morning Post: ‘Invest Taiwan’ offers low-cost loans, help finding workers and even rent-free accommodation for firms struggling to make a profit on the Chinese mainland. Read more

    Representatives from India and Latin America Call for More Trade

    Prensa Latina: Options for enhanced economic cooperation in India and Latin America were discussed by diplomats from that region and officials of the Indian Government, banking entities and the National Federation of Chambers of Commerce and Industry. Read more

    China ready for trade talks with East Africa bloc: ambassador to Kenya

    Reuters: China is ready to negotiate a trade deal with the six-nation East Africa Community (EAC) to address Kenya’s complaints about a huge trade imbalance in favor of the Asian economic giant, China’s ambassador to Nairobi told Reuters. Read more

    EU: No strategy yet if China halts critical exports in U.S. trade war

    Reuters: The European Union on Thursday said it had no clear strategy on how to ensure continued supplies of critical raw materials if China, the world’s leading supplier of rare earth minerals, used such exports as leverage in the escalating U.S.-China trade war. Read more

    EU asks for formal consultations with Southern African Customs Union on trade in poultry

    EU: Today, the EU requested formal consultations – a first step in a dispute settlement process – with the Southern African Customs Union (SACU) over safeguard measures affecting imports of frozen chicken cuts from the EU. Read more

    No trade action against India as of now: USTR

    The Hindu: The office of the United States Trade Representative (USTR) said it had no announcement of a trade action at the moment but continued to raise market access concerns with India, reacting to media reports last week that the U.S. was considering launching a 301 probe against India. Read more

    U.S. Asks WTO to Temporarily Pause Its IP Dispute With China

    Bloomberg: The U.S. asked the World Trade Organization to suspend its dispute over China’s intellectual property practices for six months, according to a notice published Friday on the WTO website. Read more

    PM Modi slams protectionist, unilateral trade moves

    Economic Times: Prime Minister Narendra Modi on Friday criticised unilateral and protectionist decisions in trade, seeking instead a rules-based, anti-discriminatory and WTO-led inclusive system that would address the needs and aspirations of stakeholders globally. Read more

    Australian rare earth miners push development deals to counter China grip

    Reuters: Rare earth developers in Australia say they are edging closer to signing deals with new customers that would drive forward their projects amid mounting global supply concerns over the minerals that are crucial to high-tech industries. Read more

    WTO NEWS

    NEW ON CTLD BLOG

    The Caribbean Trade & Development Digest is a weekly trade news digest published by the Caribbean Trade Law & Development Blog. Liked this issue? To read past issues, please visit here. To receive these mailings directly to your inbox, please subscribe to our Blog below:

  • G20 Trade Ministers call for WTO Reform

    G20 Trade Ministers call for WTO Reform

    Alicia Nicholls

    Trade Ministers and Digital Economy Ministers of the world’s twenty most economically advanced nations met on 8 and 9 June 2019 in Tsukuba City, Japan to further strengthen G20 trade and digital economic policy cooperation. The meeting was the first time G20 Trade Ministers and Digital Economy Ministers came together. It was chaired by H.E. Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, H.E. Mr. Masatoshi Ishida, Minister of Internal Affairs and Communication, and H.E. Mr. Taro Kono, Minister for Foreign Affairs, of the Government of Japan.

    Following the meeting the Ministers released a statement on trade and the digital economy. Symptomatic of the division existing among G20 countries on the way forward, a Chair Statement was also released which reflected the views of interest where consensus was unachievable.

    The G20 Statement on Trade and Digital Economy spoke of trade developments, promotion of trade and investment for sustainable development, WTO reform, recent developments in bilateral and regional trade agreements and the interface between trade and the digital economy. It should be noted that the statement did not include a pledge to fight protectionism which was a staple of G20 statements.

    They reiterated that “trade and investment have contributed to widespread and sustainable global growth, inclusivity, poverty reduction and sustainable economic development.”  They noted that “trade and investment growth slowed in 2018 and that this is contributing to a weaker global growth outlook for 2019-20 than previously projected” and further that “while growth is expected to increase in 2020, downside risks arising from the current trade environment could undermine this growth”.

    The statement also indicated that many members also “affirm the need to strengthen international rules on industrial subsidies and welcome ongoing international efforts to improve trade rules affecting agriculture”.

    On WTO reform, the Ministers stated that they “will work constructively with other WTO Members to undertake necessary WTO reform with a sense of urgency, including in the lead-up to the Twelfth WTO Ministerial Conference”.

    They also confirmed “the importance of the role of the WTO in generating opportunities and addressing various challenges.” They reiterated their support for “the work to agree on comprehensive and effective disciplines on fisheries subsidies as mandated in MC11” and further noted “some ongoing initiatives for updating WTO rules”.

    On the pressing issue of the WTO Appellate Body, they agreed that “action is necessary regarding the functioning of the dispute settlement system consistent with the rules as negotiated by the WTO Members.”

    The Ministers recommended that G20 leaders consider the topics discussed at the upcoming Osaka Summit.

    The full statement may be read here. The Chair Statement may be read here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

    DISCLAIMER: All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may be affiliated from time to time.

  • Trinidad & Tobago receives largely positive feedback during latest WTO Trade Policy Review

    Trinidad & Tobago receives largely positive feedback during latest WTO Trade Policy Review

    Alicia Nicholls

    On May 22 and 24, 2019, the Republic of Trinidad & Tobago underwent the fourth review of its trade policies and practices under the World Trade Organization (WTO) Trade Policy Review Mechanism. Trade Policy Reviews are the process by which the trade practices and policies of each WTO member are collectively evaluated by the WTO Membership (acting as the Trade Policy Review Body) at periodic intervals. Trinidad & Tobago is reviewed every six years and previously underwent reviews in 2012, 2005 and 1998.

    In April this year, the Trade Policy Review Mechanism celebrated 30 years of existence. It is an important aspect of the WTO’s monitoring function and aims to periodically evaluate the impact of each Member’s trade policies and practices on the multilateral system, thereby ensuring accountability, predictability and transparency of the rules-based multilateral trading system.

    An independent report prepared by the WTO Secretariat and a report by the WTO member being reviewed form the basis of the review. Trade Policy Reviews are a detailed and lengthy process which begin many months in advance of the actual meetings in Geneva. In January 2019, a WTO Review team visited Trinidad & Tobago and consulted with various government and private sector stakeholders. This week a delegation from Trinidad & Tobago which was led by H.E. Senator Paula Gopee-Scoon, Minister of Trade and Industry of Trinidad & Tobago and comprised five technical members, was in Geneva, Switzerland for the period May 20-24 to attend the review meetings at the WTO.

    Trinidad & Tobago received largely positive feedback for the current review period (2012-2019). According to the concluding remarks by the Chairperson, more than 200 questions were submitted by 15 Members. The questions and answers are usually available six weeks after the review process is completed. The Chairperson’s concluding remarks noted that Trinidad & Tobago provided answers to all the written questions submitted in advance of the meeting.

    The Chairperson’s concluding remarks listed the areas in which WTO Members appeared to be pleased with Trinidad & Tobago’s performance, including the return to economic growth after a period of recession, the steps taken to improve its government procurement regime through the passage of the Public Procurement and Disposal of Public Property Act, the modernization of its customs infrastructure and the introduction of a single electronic window in 2012 and the introduction of a new online payment system for import tariffs and other taxes and fees in 2019. They also praised the twin island Republic’s active participation in the WTO, its acceptance of the Protocol Amending the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in 2013 and its ratification of the Trade Facilitation Agreement in 2015.

    Trinidad & Tobago was encouraged by some Members to join the Information Technology Agreement (ITA) and to become an observer to the Agreement on Government Procurement. Other areas suggested for improvement include facilitation of access to visas and foreign exchange, improving the regime for Sanitary and Phyto-sanitary Standards (SPS) and providing further information on enforcement actions for intellectual property rights. Some Members also encouraged Trinidad & Tobago to notify its announcement of an import ban on plastics from 2019 to the Committee on Technical Barriers to Trade to allow comments from Members.

    Members, however, raised some areas of particular concern. On the issue of tariffs, they noted, for example, that the applied Most Favoured Nation (MFN) rate exceeded the country’s bound rate on 59 tariff lines in 2018, up from 50 in 2011 during its last review. Another area of concern for Members was while the import surcharges imposed in 1990 were supposed to be temporary, the Government had continued to apply new import surcharges. Members also noted that Trinidad & Tobago’s notifications were either not up to date or outstanding in some areas, but were pleased to learn that the country made a formal request for technical assistance on notifications.

    While Trade Policy Reviews are an often intensive exercise for the Member being reviewed, they are an important opportunity for WTO Members to query other Members’ trade policies and practices, as well as for Members themselves to receive objective periodic feedback on their adherence to rules, disciplines and commitments under the WTO’s agreements, as well as on their general trade and investment framework. This feedback could be useful to Governments seeking to make business and investment facilitation reforms to improve their competitiveness and investment attraction.

    The Secretariat’s detailed report contains extensive information on the overall business environment of the Member reviewed for the review period, including its macroeconomic environment, its legal and regulatory framework for trade and investment and trade policies and practices by measure and by sector. As such, trade policy review documents are often rich initial sources of information for businesses and investors interested in doing business or investing in a particular economy.  

    Once Trinidad & Tobago submits its replies within a month’s time to any follow up questions raised during the meeting, the Trade Policy Review will have been successfully concluded.

    The documents from Trinidad & Tobago’s latest review may be accessed here. Also visit the website of the Ministry of Trade and Industry for press releases related to the review here.

    Alicia Nicholls, B.Sc., M.Sc., LL.B., is an international trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.

    DISCLAIMER: All views expressed herein are her personal views and do not necessarily reflect the views of any institution or entity with which she may be affiliated from time to time.